ETH crashed 15% in opposition to BTC inside 2 days, Bitcoin stays steady
ETH tumbled 15% against BTC in 2 days while Bitcoin jumped to a new high of $ 38,500 as we can see on our altcoin news charts today.
ETH is down 15% compared to Bitcoin in two days and BTC continued its recovery from recent losses and continued to climb to a six-day high of $ 38,500 before settling down. Most of the altcoins failed to make any further profits and Bitcoin’s market dominance rose to 44%. After the main cryptocurrency fell to $ 31,000, it began to regain its lost ground and rose by $ 3,000 on Thursday, adding another chunk and climbing on the previous day.
BTCUSD. Source TradingView
As a result, BTC rose to $ 38,500 a few hours ago, becoming the asset’s highest price since the 6th. As with previous breakout attempts, the bears took control and BTC fell to $ 36,000. Since then, the situation has been reversed and BTC is now back above $ 37,000.
Crypto’s market cap is just a few billion dollars away from $ 700 billion and its market dominance is back at 44% as most alternative coins have stalled or declined over the past day. As mentioned above, most alternative coins lost some of their value in the past 24 hours when ETH crashed 15% against BTC and lost significant value against the number one cryptocurrency. Binance Coin climbed to $ 380, but BNB has fallen 3% to $ 350 in the past 24 hours. It is similar with Cardano, Ripple, Dogecoin, Polkadot, Uniswap and Bitcoin Cash.
Overview of the cryptocurrency market. Source quantify crypto
ADA is down 4% to $ 1.5, DOGE is still struggling at $ 0.32, XRP is below $ 0.9, DOT is down 5% and UNI is down 6% to $ 23. Small and mid cap altcoins also suffered last day, with ICP losing the most 15% and Synthetix 14%. THORChain lost 13% and Solana 10%. cumulative market cap is down $ 50 billion in the last day.
As reported a few days ago, the cryptocurrency market dropped $ 200 billion that was wiped out in the past 24 hours. Total market cap declined 11% during Tuesday morning’s Asian trading sessions as it fell from $ 1.74 trillion to a new low of $ 1.55 trillion. The sell-off resulted in $ 200 billion of digital assets being wiped out and back in fiat, the lowest figure the market has seen since Nov.
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